If the market for a product is broadly? defined, then
A. the good has many complements.
B. there are many substitutes for the product and the demand for the product is relatively elastic.
C. there are few substitutes for the product and the demand for the product is relatively inelastic.
D. the expenditure on the good is likely to make up a large share of? one's budget.
Which of the following will NOT cause a shift in the supply of? gasoline?
A. An increase in the wage rate of refinery workers.
B. An improvement in oil refining technology.
C. A decrease in the price of crude oil.
D. A decrease in the price of gasoline.